Nation’s largest operator of wholly owned grocery-anchored centers acquires Boston property

Marshfield, Mass. -- Brixmor Property Group has acquired Webster Square, an 182,756-sq.-ft., grocery-anchored community center located on Boston’s South Shore. Cushman & Wakefield oversaw the transaction of the Star Market-anchored community shopping center on behalf of Curtis Management.



“Located on Boston’s affluent South Shore, Webster Square serves as the dominant retail shopping center in a trade area with limited full-size grocery options and high barriers to entry, making the asset very appealing to Brixmor,” said Cushman & Wakefield executive VP Geoffrey Millerd.



Within five miles of the center there are 44,100 residents with incomes over $121,000. The center was 98% leased at the time of the transaction.



The center is located at the intersection of Route 139 and Route 3, one of the region’s primary thoroughfares with average daily traffic exceeding 24,000 vehicles.



Brixmor operates the nation's largest portfolio of wholly owned grocery-anchored community and neighborhood shopping centers, with 520 properties aggregating approximately 87 million sq. ft. of gross leasable area located primarily across the top 50 U.S. metro markets.